[UVXY]

Per the backlink I bailed on UVXY near the top on Friday and looked for an entry point today.  I got back in once during the day but was very quickly stopped out for a small loss (few pennies, not even 1%) while the shares fell another 7% from that point into the close.



Current snapshot is below.  The red model, which I tried to buy into, is busted.  But the blue model is not confirmed yet.  And so I went back in just now at 29.78 in the extended trade with a double position.  The 3 models I see as most likely from here are shown below.  Red is always the most likely, then blue, then green.

Red says go back up and test that upper rail and then fail to break out thus forming a declining double top which will probably end up in a falling wedge throwunder per below. Blue gaps down in the AM and then recovers in a B wave before 5 more down into C.  Green says that the inclining double bottom has just broken out.  That green is a gap above the upper rail at the open.  While the lowest probability thing to happen it would also be the most telling.  If it happens it would probably be accompanied by "news".



Speaking of news, the big terrorism in Paris didn't cause markets to go down like many think will be the case.  In truth, the herd will treat the news however it feels.  If the wave count shows that mood is on the rise then even bad news will not cause much negativity in the share prices but if the mood is already falling then bad news will be treated as bad and people will brush off good news as if it was not important.